Advertising
From Pink Slips to Silent Sidelining: Inside adland’s layoff and anxiety crisis
SEBI’s investigation into Zee promoters for funds siphoning; Sources say violation escalated to Rs1000 crore
SEBI’s investigation into Zee's Punit Goenka and Subhash Chandra for funds siphoning goes on. Sources say violation escalated to Rs800-1000 crore from Rs200 crore.
ZEEL MD Punit Goenka argued that while digital is effective for transactional advertising, ZEEL’s strength lies in brand building
After two years of merger talks, Sony called off the $10 billion merger deal with Zee Entertainment. Now sources have informed CNBC-TV18 that "SEBI is in the final stages of its investigation against Punit Goenka and Subhash Chandra Goenka and their role at Zee."
SEBI has been investigating charges around fund siphoning and window dressing of books of accounts which allegedly benefited the promoter family of Zee Entertainment. As per sources, the market regulator can complete its investigation and release its orders in the next 2-3 months.
SEBI had informed the Securities Appellate Tribunal (SAT) in October 2023 that it would take 8 months to complete its investigation against Punit Goenka and Subhash Chandra Goenka.
SAT had asked the promoters of Zee Entertainment to co-operate with market regulator in its investigation.
Sources aware of the development informed that the market regulator has established Punit Goenka’s role in siphoning off funds as Key Managerial Personnel (KMP) in various Essel entities.
As per sources, in the first phase of its investigation, SEBI found misuse of funds to the tune of ₹200 crore from Zee Entertainment, benefiting the promoter family. However, now, according to sources, the size of the violation has escalated to around ₹800-₹1,000 crore.
As part of its final order, SEBI could consider imposing a monetary penalty on Punit Goenka and Subhash Chandra Goenka.
Additionally, the market regulator might uphold its previous order of restraining Punit Goenka and Subhash Chandra Goenka from taking positions as a director or KMP at any listed entity.
SPOTLIGHT
From purpose-driven work and narrative-rich brand films to AI-enabled ideas and creator-led collaborations, the awards reflect the full spectrum of modern creativity.
Read More“Confusion creates opportunity for agile players,” Sir Martin Sorrell on industry consolidation
Looking ahead to the close of 2025 and into 2026, Sorrell sees technology platforms as the clear winners. He described them as “nation states in their own right”, with market capitalisations that exceed the GDPs of many countries.